CaptJCool
Established Member
- Joined
- May 31, 2012
- Posts
- 3,959
Here’s another interesting summary of supposed places to go looking for extra taxes
It fails to consider corporate issues like transfer pricing, arbitraging inter-company loans interest rates, dividend swapping, refund of excess franking credits, off-shore marketing hubs, off-shore invoicing, unrepatriated profits, the double Irish Dutch sandwich style of self-indulgent tax manoeuvres
Nor is there much in the way of where funds to not-for-profit service associations come from nor go (grant money is so off-book for purposes of GST allocations in States & Territories) and so not “taxed” and certainly “not counted as a taxed supply nor income” in the hands of the association nor its membership even if spent on their indulgences. Annoying when for exampel Strata fees are GST taxable and assessed for income tax. With sinking funds in the 50,000 plus bracket, and even more in serious high rise or high end strata, it’s a truckload of taxes paid years before any possible GST credits are claimable) no equity in that
So it’s focus is more on what if we did tax this item instead of granting legitimate exemptions
It fails to consider corporate issues like transfer pricing, arbitraging inter-company loans interest rates, dividend swapping, refund of excess franking credits, off-shore marketing hubs, off-shore invoicing, unrepatriated profits, the double Irish Dutch sandwich style of self-indulgent tax manoeuvres
Nor is there much in the way of where funds to not-for-profit service associations come from nor go (grant money is so off-book for purposes of GST allocations in States & Territories) and so not “taxed” and certainly “not counted as a taxed supply nor income” in the hands of the association nor its membership even if spent on their indulgences. Annoying when for exampel Strata fees are GST taxable and assessed for income tax. With sinking funds in the 50,000 plus bracket, and even more in serious high rise or high end strata, it’s a truckload of taxes paid years before any possible GST credits are claimable) no equity in that
So it’s focus is more on what if we did tax this item instead of granting legitimate exemptions